Tank Utility
AcquiredSomerville, US · Founded 2014 · 15 employees on LinkedIn · 8 known investors
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Tank Utility offers an LTE-connected tank monitoring device and mobile app that tracks fuel levels and alerts users before they run out, helping fuel delivery operators reduce the number of deliveries needed. The product is aimed at propane and fuel delivery businesses managing tank refills.
Also known as Tank Utility
Founders & leadership
Tank Utility was founded in 2014 by Nicholas Mashburn and Amos Epstein.
Board
Investors · 8
Also in the syndicate · 3
Reported raises · per SEC filings
Form D private placements$8M disclosed across 5 of 6 rounds · 2016–2019
▶$925KraisedFeb 2020 · 7 investors · Other TechnologyRule 506(b)
- Amos EpsteinExecutive Officer, Director, Promoter
- Harris BrodyDirector
- Sara ChamberlainDirector
- Nicholas MashburnDirector, Promoter
- Offering amount
- $1.2M
- Amount sold
- $925K
- First sale
- Dec 2019
- Incorporated
- Corporation, Delaware
- Federal exemptions
- 06b
▶$4.9MraisedJan 2019 · 10 investors · Other TechnologyRule 506(b)
- Harris BrodyDirector
- Amos EpsteinExecutive Officer, Director, Promoter
- Sara ChamberlainDirector
- David GagnonPromoter
- Nicholas MashburnDirector, Promoter
- Offering amount
- $6M
- Amount sold
- $4.9M
- First sale
- Dec 2018
- Incorporated
- Corporation, Delaware, 2014
- Federal exemptions
- 06b
▶$400KraisedDec 2018 · 3 investors · Other TechnologyRule 506(b)
- Sara ChamberlainDirector
- Harris BrodyDirector
- David GagnonPromoter
- Amos EpsteinExecutive Officer, Director, Promoter
- Nicholas MashburnDirector, Promoter
- Offering amount
- $600K
- Amount sold
- $400K
- First sale
- Nov 2018
- Incorporated
- Corporation, Delaware, 2014
- Federal exemptions
- 06b
▶$575KraisedOct 2017 · 4 investors · Other TechnologyRule 506(b)
- David GagnonExecutive Officer, Promoter
- Harris BrodyDirector
- Amos EpsteinExecutive Officer, Director, Promoter
- Nicholas MashburnDirector, Promoter
- Sara ChamberlainDirector
- Offering amount
- $1M
- Amount sold
- $575K
- First sale
- Oct 2017
- Incorporated
- Corporation, Delaware, 2014
- Federal exemptions
- 06b
▶$1.2MraisedJun 2016 · 8 investors · Other TechnologyRule 506(b)
- Sara HochmanDirector
- Harris BrodyDirector
- Nicholas MashburnExecutive Officer, Director, Promoter
- David GagnonExecutive Officer, Promoter
- Amos EpsteinExecutive Officer, Director, Promoter
- Offering amount
- $2.2M
- Amount sold
- $1.2M
- Proceeds to insiders
- $16.1K
- First sale
- May 2016
- Incorporated
- Corporation, Delaware, 2014
- Federal exemptions
- 06b
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Company profile
researched Aug 2026Tank Utility provides Internet-of-Things tank monitoring hardware and accompanying software for delivered-fuel markets, principally propane. Its wireless monitor attaches to a remote-ready tank dial and reports fill levels, which customers view through a mobile app (iOS and Android), a browser version of that app, or, for fuel providers, the Tank Utility Operations Portal that shows real-time tank levels across customer accounts along with delivery efficiency over time. Homeowners and businesses can set alerts, track consumption history and optionally share tank level data with their fuel supplier.
The company serves two distinct audiences. For fuel marketers, Tank Utility positions the monitoring and logistics-intelligence software as a way to deliver the same volume of gallons in fewer trips and to move toward just-in-time delivery; the company has stated that fuel providers can eliminate up to 50% of logistics costs. For homeowners, the monitor is sold directly through an online store, with setup handled by a dedicated installation app, and discounts available where a customer's fuel supplier participates in Tank Utility's partner program. The company describes its focus as applying IoT, analytics and change management to last-mile delivery for small and medium-sized delivered-fuel businesses.
Founding story
The company traces its origin to a ski house weekend taken by employees of EnerNoc, who arrived to find the propane tank empty and spent the weekend with no heat and frozen pipes. The group returned to Boston with the idea of preventing the same experience for other propane customers, and Tank Utility was founded. Amos Epstein is CEO and co-founder and Kyle Murphy is CTO and co-founder.
Business model
Tank Utility sells monitoring devices together with software access: homeowners and businesses purchase a WiFi monitor through the company's online store and use the mobile app, while fuel marketers use the Operations Portal to view customer tank levels and delivery efficiency. The company also partners with fuel suppliers, offering discounts to the customers of participating suppliers.
Revenue comes from sales of tank monitoring hardware, sold directly online to homeowners and businesses, and from the monitoring and logistics-optimization software used by fuel providers.
Traction
Monitors tanks for more than 750 fuel providers across all 50 U.S. states and reports having delivered millions of dollars in logistics savings (as of February 2019). Following its 2019 raise, the company planned to expand headcount across multiple functions.
Latest developments
Tank Utility is now part of Generac Power Systems.
▸Full profile — market position, technology, go-to-market, geography, history
Market position
As of February 2019 the company described itself as an IoT tank monitoring and logistics optimization provider monitoring tanks for more than 750 fuel providers across all 50 U.S. states. Its customer base of delivered-fuel companies serves heating for more than 10 million U.S. locations.
The company combines remote monitoring hardware with logistics intelligence software so fuel providers gain an accurate real-time view of customer tank levels, enabling just-in-time delivery; it cites elimination of up to 50% of logistics costs and delivering the same gallons in 40% fewer deliveries.
Technology
LTE- and WiFi-connected tank level monitors that mount on a remote-ready tank dial, including an underground tank installation option, paired with a mobile app for setup and for viewing real-time levels and consumption history, and a web-based operations portal for fuel providers. The company applies IoT sensing and software analytics to logistics decision-making, and notes the challenge of cell connectivity in the remote areas its customers serve.
Go-to-market
Direct online sales of monitors to homeowners and businesses, a sales motion aimed at fuel marketers, and partnerships with fuel suppliers that extend discounted monitors to their customers. The company maintains business development, strategic partnership and customer success teams.
Delivered-fuel companies and propane fuel marketers, particularly small and medium-sized businesses serving residential and commercial heating customers, plus homeowners and businesses with propane tanks who buy monitors directly.
Geography
Headquartered in Boston, Massachusetts, in the Downtown Crossing area, with customers across all 50 U.S. states.
History
Tank Utility began with a residential propane monitoring product and later expanded its offering into a solution for fuel marketers, adding logistics intelligence software alongside the monitoring hardware. In February 2019 it announced a $6 million venture financing round led by Bullpen Capital, with plans to hire across product development, sales, marketing, customer success and operations at its Boston headquarters in Downtown Crossing. The company subsequently became part of Generac Power Systems, which had earlier been an investor.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Timeline · 2
launches, deals, and filingsThe company's About Us page states that Tank Utility is now part of Generac Power Systems.
Tank Utility, a Boston-based provider of IoT tank monitoring and logistics optimization services, raised $6 million led by Bullpen Capital with participation from existing investors Energy Foundry, Blue Fog Capital and Generac and new investors Serra Ventures and Array Ventures. Funds were earmarked for expanding business reach and hiring in product development, sales, marketing, customer success and operations.
$6M source ↗
Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.
In the news
▸Research sources · 8
primary sources listed
- Tank Utilitytankutility.com · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Tank Utility do?
- Tank Utility makes connected propane tank monitors and logistics software for fuel marketers and homeowners.
- Who founded Tank Utility?
- Tank Utility was founded by Nicholas Mashburn, Amos Epstein in 2014.
- Who are Tank Utility's investors?
- Tank Utility's investors include Bullpen Capital, Earth Foundry, Serra Ventures, Shorooq Partners, Energy Foundry.
- How much funding has Tank Utility raised?
- Tank Utility has disclosed $8M raised across 5 of its 6 known rounds.
- Where is Tank Utility headquartered?
- Tank Utility is headquartered in Somerville, US.